0. Proposer Info
- Email : team@krav.trade
- Proposer’s Project Name : RAVE Trade
- Proposer’s Project URL : rave.trade
- Proposer’s X (Twitter) Account : https://x.com/RAVE__Trade
1. TL;DR
This proposal requests the whitelisting of RAVE Trade to Initia’s VIP (Vested Interest Program).
2. Background
2-1 About the Project
- Protocol Name : RAVE Trade
- Protocol Blurb: The first quanto perpetual protocol. Trade anything, with everything.
- Protocol Type : DEX Perpetual Futures
- Docs : docs.rave.trade
- Audits :
[insert audit links or N/A]
3. Rationale & Impact
- Motivation and benefit to the Interwoven Economy :
- RAVE Trade permissionlessly connects the Interwoven Ecosystem with on-chain trading. Stake any asset to provide trading liquidity, or use any asset as trading collateral for major perp pairs.
- VIP on RAVE enables tailored incentives that allows RAVE Trade to manage and grow both trading activity and liquidity depth for desired collateral assets. Additionally, VIP on RAVE reinforces the broader Interwoven Economy by providing additional incentivized use-cases for ecosystem assets like LSTs and LRTs.
- VIP Scoring Criteria (Details)
- Users can earn RAVE VIP points by trading or providing liquidity with whitelisted assets.
- Each whitelisted collateral asset is assigned a base rate of X points, priced per INIT of value using TOKEN/INIT DEX price.
- Eg. $INIT: 20 points per INIT
- For trading, users earn VIP points per INIT of unleveraged volume.
- Opening and closing trade volume are counted seperately
- Leverage acts as a multiplier on the base rate, determined by the formula:
- Leverage multiplier = 1+ (leverage - 1)/5
- 1x receives 1x multiplier
- 11x receives 3x multiplier
- 51x receives 11x multiplier
- Therefore, for a trade, VIP score is calculated as follows:
- Points Earned = [Unleveraged Open + Closing Volume (in INIT)] * Base Rate * Leverage Multiplier
- Users can also earn RAVE VIP points by depositing whitelisted assets into the RAVE Cave. For liquidity, points accrue per day based on the users LP size in INIT, at 5x the base rate.
- Eg. $INIT: 100 points per INIT per day
- On an epoch basis, RAVE will proportionally distribute esINIT VIP rewards to users based on their VIP score.
- The threshold for the VIP target score is 60%. Meaning that in a stage, a user must earn 60% of the amount earned in the previous VIP stage to fully claim the previous stage’s rewards.Please write down specific formulas. Proposals that do not contain specific formulas will be removed.
4. Proposal Details
| Field | Value | Description |
|---|---|---|
| Operator Address | 0x97136B44a2a28407964af15De7D23Ea8882C3BBa |
The address eligible to claim a portion of the VIP rewards allocated to the rollup team as commission. This address does not need to be a system key (like admin or bridge executor). |
| Bridge ID | 17 |
An identifier automatically generated during the setup of the bridge between the Rollup and Initia. |
| Bridge Address | init1wul4rtjagr0cnrqey4ewl98j3v2uthapeh6q0vfns35d35l8qamsfc9gxu |
The L1 address where tokens are locked when bridging from L1 to L2. This address is auto-generated during bridge setup. |
| Scoring Contract Address | 0x25F77fb5Bd78B3BeB4d85c60B6262924775CBf99 |
The contract deployed on the rollup that assigns VIP scores to users. These scores are snapshotted on L1 and used to build a Merkle tree for VIP reward distribution. |
| Operator Commission Max Rate | 0.2 |
The maximum commission rate the rollup can configure. |
| Operator Commission Max Change | 0.1 |
The maximum allowed change in the commission rate per update. For example, if OCR is 0.3 and OCMC is 0.2, OCR can only be adjusted between 0.1 and 0.5. |
| Operator Commission Rate | 0.1 |
The actual commission rate. If 100 INIT is distributed and OCR is 0.2, the rollup team receives 20 INIT. |
| VM | EVM | The VM type of the rollup is using. |
Governance Votes
- YES – You support whitelisting this rollup on VIP with the parameters provided.
- NO – You do not support adding this rollup on VIP.
- NO WITH VETO – You believe this proposal is harmful, spam, or violates governance principles.
- ABSTAIN – You choose not to vote for or against but wish your vote to count toward quorum.